Mortgage Affordability Calculator
How much home can you afford? Uses current stress-test rules and BC mortgage qualification guidelines.
Car, credit cards, student loans, etc.
Current 5-year fixed: ~4.39%
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Start Free TrialFrequently Asked Questions
How is mortgage affordability calculated in Canada?+
Canadian lenders use the Gross Debt Service (GDS) ratio and Total Debt Service (TDS) ratio. GDS measures housing costs (mortgage + property tax + condo fees + heat) as a percentage of gross income — the maximum is 39%. TDS adds all other monthly debts and must stay below 44%. This calculator uses both ratios to estimate your maximum purchase price.
What is the mortgage stress test?+
The Canadian mortgage stress test requires you to qualify at the higher of your contract rate plus 2%, or 5.25% — whichever is greater. This means you must demonstrate you can afford payments at a higher rate than you will actually pay. The stress test applies to all federally regulated lenders regardless of your down payment amount.
How much down payment do I need in BC?+
The minimum down payment in Canada depends on purchase price: 5% for homes up to $500,000; 5% on the first $500,000 plus 10% on the portion from $500,000 to $999,999; and 20% for homes $1,000,000 and above. Homes over $1 million are not eligible for CMHC mortgage insurance.
What are current mortgage rates in Metro Vancouver?+
Mortgage rates vary by lender, term, and type (fixed vs. variable). As of 2026, the Bank of Canada policy rate and lender spreads determine available rates. This calculator uses a default rate you can adjust. Contact your broker or a Big 6 bank for current quoted rates based on your specific situation.